Medical (Injection Port) is the largest segment driving the growth of Injection Port Market
SWOT Analysis
Strength: Injection ports provide convenience and improve patient compliance for self-administered drugs. They prevent contamination and ensure accurate dosing.
Weakness: Complex regulatory approval process increases costs and time for market introduction of new products. High reliance on imported raw materials raises supply chain risks.
Opportunity: Rapid growth of biologics and large molecule drugs boosts demand for injection ports optimized for large volume delivery. Rising geriatric population increases prevalence of chronic diseases treated through injection ports.
Threats: Threat from alternative drug delivery methods like inhalers, transdermal patches.Price erosion due to low-cost competitors from Asia Pacific region.
Key Takeaways
The Global Injection Port Market Size was valued at US$ 1.36 Bn in 2023. The market is expected to grow at a CAGR of 6.5% during the forecast period due to increasing incidence of chronic diseases.
North America dominated the global market in 2023 with over 30% market share owing to large pharmaceutical industry and high healthcare spending in the US. However, Asia Pacific is anticipated to be the fastest growing regional market between 2023 to 2030 backed by rising medical tourism, increasing research & development activities and presence of key players in the region.
Key players operating in the injection port market are West Pharmaceutical Services Inc., Berry Global Inc., Sartorius AG, Corning Inc., Gerresheimer AG, SCHOTT AG, Stevanato Group, AptarGroup Inc., SGD Pharma, Ompi - Stevanato Group, DWK Life Sciences, Nipro Corporation, Nolato AB, Terumo Corporation, Qosina Corp. West Pharmaceutical Services, Inc. and Stevanato Group are identified as prominent players based on their extensive product portfolio and global presence.
Read More - https://makuv.com/increasing-demand-for-pre-filled-syringes-to-boost-the-growth-of-injection-port-market/
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